-- Market Insight
Dairy Spreads are soft spreadable cream-textured products made from various dairy products. There are several types of dairy spreads available in the market. These spreads are made with Cheeses, Fruits, Meats, Vegetables, Spices and Seasonings.
Leading Players
Some of the key players in the global Dairy Spreads Market are
• Gujarat Cooperative Milk Marketing Federation Ltd. (India),
• Britannia Industries Limited (India),
• The Kraft Heinz Company (US),
• Alouette Cheese USA LLC (US)
• Parag Milk Foods Ltd (India),
• Arla Foods amba (Denmark),
• Bel Brands USA, Inc. (US),
• Lactalis Group (France),
• Land O’Lakes, Inc. (US),
• Organic Valley (US)
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Industry Segment
The global Dairy Spreads Market has also been segmented based on type, packaging type, and distribution channel.
Based on Packaging Type, the global Dairy Spreads Market has been classified as Tubs, Tubes/Pouches, and others. The tubs segment is projected to account for the largest market share and be the fastest growing during the forecast period. This can be attributed to the convenience offered by tubs in the consumption and application of spreads.
By distribution channel, the global Dairy Spreads Market has been segmented into store-based and non-store-based. The store-based segment is projected to account for the larger market share due to the widespread availability of dairy spreads in supermarkets and hypermarkets.
Based on Type, the global dairy spreads market has been divided into Butter, Cheese and others. The cheese segment is expected to be the largest during the review period owing to consumer inclination toward the flavor and taste of cheese spreads.
Regional Analysis
The Global Dairy Spreads Market has been segmented, based on Region, into North America, Europe, Asia-Pacific, and the rest of the world.
The market in Asia-Pacific is projected to register the highest growth rate during the forecast period due to changing eating patterns of consumers. Moreover, economic growth and technological developments in the food & beverage industry have led to the development of innovative processed dairy spreads. Additionally, the rising purchasing power of consumers, owing to economic development in China, India, and Japan has led to changing dietary and eating habits, resulting in an increased demand for high- and premium-quality food products in the region. Also, convenient and easily available food items have become a likable and preferred option amongst most age groups.
North America is expected to be the largest dairy spreads market during the forecast period owing to the changing preferences for sweet and savory flavors. The food & beverage manufacturers in the region are focused on innovation to cater to changing consumer needs. Additionally, cheese and butter spreads are used in a variety of snack foods and are also consumed along with various food products as a dip or spread. For instance, bagel and cream cheese is a common food combination in American and Continental cuisines.
Europe is expected to account for a notable share of the global dairy spreads market due to the shifting preferences of consumers for products with enhanced taste and convenience. The rising demand for innovative products and changing taste trends are driving the sales of dairy-based products. Additionally, with the help of technological advancements, market players are launching innovative products, which, in turn, results in product diversification with improved flavor, taste, and texture.
South America and the Middle East are expected to be major markets contributing to the growth of the market in the rest of the world. Dairy-based products contain healthy nutrients, which is driving their popularity in the market. Across the region, manufacturers are focusing on introducing a wide range of dairy spreads with different ingredients and flavors, which is expected to fuel regional market growth.
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